Death and taxes are said to be inevitable. What is not inevitable is that you should pay more tax than you are legally obliged to.
The days when anyone could complete their own tax return without help from a professional are disappearing fast. Each year sees new tax legislation which serves to compound the problem. There is no substitute for expert advice to help you to negotiate the tax minefield to ensure that you are not paying more tax than necessary.
Increases in property values over recent years means that the number of people paying inheritance tax continues to rise inexorably. With good professional advice and some advance planning you can keep that potential liability to a minimum.
Making gifts to try and avoid some tax liability is not that simple. It may have implications with respect to other personal taxes as well as inheritance tax. Ensuring that you retain sufficient assets to meet possible future care costs further complicates the position. The team at Scott Bailey can provide a “one-stop shop”. Our in-house tax specialist Shona Cox can advise on the most effective tax planning. The wills, trusts and probate team can prepare all the necessary legal documents to put the agreed plans into effect.
- Prepare personal tax returns
- Prepare trust tax returns
- Prepare partnership tax returns
- Provide income tax and capital gains tax advice
- Advise on inheritance tax and estate planning
- Complete inheritance tax forms on death
- Advise and deal with any tax liabilities arising during the administration of the estate
We also offer wills, trusts and probate services.